It’s political. My guess is the Saudi doing it to limit Iran’s oil revenue and therefore their regional power, and to punish the Russian for their involvement in Syria.
They’re not worrying about US shale as $60 a barrel is very profitable for them unlike US shale where they need above $50 to $60 to make money.
Those idiots might cause the world Oil reserve to decline quicker due to the fact that everyone now want to produce more to cover losses.
Can’t believe a diversify company with good balance sheet like AWE is very undervalue. Buy and forget about it till the oil price above $50. Oil price can’t stay lower.
AWE Price at posting:
45.3¢ Sentiment: Buy Disclosure: Held
